Overall vacancy in the Boise Valley's Industrial market dipped from 3.3% to 3.1% in February while multitenant vacancy actually increased from 8.1% to 8.8%. Industrial's overall vacancy fell for the 6th consecutive month, hitting the most recent low of 3.1%. Notable market movement, included:
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Office vacancy rate remains low

Our local economy continues to show no sign of weakening. The commercial real estate office market, a key indicator of business confidence, posted strong numbers in February. Of note, the office market's vacancy rate in the Southwest Boise submarket fell to 4.1%, the lowest point in over 15 years.
Office Space Leased at One Front Street

DC Trading leased office space in One Front Street located at 251 E. Front Street in Boise, ID. Gavin Phillips and Patrick Shalz, SIOR and Partner of Thornton Oliver Keller Commercial Real Estate represented the landlord. Michael Bergmann of Lee & Associates represented the tenant.
South Meridian's Retail Vacancy Hits Record Low

The retail market is very competitive in several submarkets throughout the Boise Valley, but none can beat South Meridian. An area of growth which has seen impressive residential real estate activity, new community amenities, and public works projects, South Meridian's total retail vacancy declined to 4.6%, the lowest point on record.
The Office Market Continues Strong Showing

The office market's total vacancy stayed flat at 8.8% in January 2018 while multi-tenant office vacancy decreased from 13.5% to 13.4%. Vacancy in Downtown Boise continued to post decreasing numbers for the third consecutive month, reaching 6.6%, the lowest rate since 2015.
The notable market movement included:
LakeHarbor Welcomes New Tenant, Xenicus

Xenicus, LLC leased office space in Lakeharbor located at 3050-3250 N. Lakeharbor Lane in Boise, ID. Xenicus, LLC is a management consulting and service company focused on helping businesses and individuals manage their success. Al Marino, SIOR and Karena Gilbert of Thornton Oliver Keller facilitated the transaction.
JB Ventures Renews their lease
JB Ventures, LLC just renewed their lease for 8,750 square feet of industrial space at 2701 Saturn Way. JB Ventures, LLC provides laser cutting services. Chris Pearson, SIOR, and Peter Oliver, SIOR, CCIM of Thornton Oliver Keller facilitated the transaction.
Flex Work Space Adds New Tenants

Whole Brain Photo and Shook Ideas, LLC each leased industrial space in Boise's Flex Work Space.
Welcome, Sam!

Thornton Oliver Keller proudly welcomes Sam McCaskill to our brokerage services team. Sam specializes primarily in land acquisitions and dispositions. You can learn more about his services.
If you have land requirements or need information regarding brokerage services, please reach out to Sam.
Industrial market tightens further

Our analysis for the Industrial market indicates that the Meridian and Caldwell Blvd submarkets reached all-time low vacancy rates in October at 1.7% and 1.6%, respectively.